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4 Hour Strategy (MACD)

  • #12,481
  • Mar 4, 2008 12:46pm Mar 4, 2008 12:46pm
Quoting pips4uandme
Hi Old Dog!

Don't know who your broker is, but I have this happen sometimes too. I think there are times in fast moving markets where this occurs (and it makes it very difficult to "scalp." Think it is one of those things we have to learn to account for in this environment. Best advice I know, is make sure you deal w/a broker who is accessible by phone and KNOW the dealing number by heart (or have on sticky at workstation). Call them immediately...I've also learned the importance of making sure your stop & limit are entered w/the order so they both fill together (I've had fill and not been able to add stop after for a few minutes in fast moving market...and that is scary too).

Must get back to packing....see you guys in Aprilish....

Pips
Thank you, Pips, for taking time out from your busy days to give encouragement and a solution. I usually do enter stop with a pending order but, for some reason, I got lazy. Support responded to my e-mail, apologized for the problem, but said that they could find no system wide problem with the software. They said the same thing that you did about having the phone number ready, so I guess it's just a matter of me having gotten complacent about software in recent times, expecting things to always work. How in the world did I get that idea? Maybe I need to drink more coffee, or less coffee? --Tony
  • #12,482
  • Mar 4, 2008 12:47pm Mar 4, 2008 12:47pm
Quoting Palmer
bshadroo:

I've never traded the Aussie. But, since the 4hr closed below the 21 several times that would have told me that the bull trend is weakening and I would have waited until the 4hr comes down to the 89, if it did. It's hard to make a call on a market that I haven't been watching. Looking back, for the price to come back to the 21 on the 4hr: The 1hr found support at the 200 with a bull candle and this would have been worth a few back to the upside. Again, this would be an aggressive trade on the 1hr for a return of price action back to the 21 on the 4hr. I try to spot a reason for the bull candle on the 1hr to come back up.

1hr/4hr
thx for the answer.i dont trade audusd too ,i uesed to trade it befor it breaked the 0.8 level and when it was running maximum 100pips in a day.any way...
please tell me if u see the picture like this in eurusd,do u enter ?
thx
  • #12,483
  • Edited 1:44pm Mar 4, 2008 12:54pm | Edited 1:44pm
Possible head and shoulder forming with MACD divergence together with a bearish piercing pattern as the head indicating bearish movement. Lets wait for some more candle emotion to indicate and confirm the above analyses or some more candle emotion to prove the opposite.

Edit
One of the rules is that price if it close below 21ema after a run up it might go back to the 21ema before going to the 89. Lets wait for it.

If it goes still up lets wait for it to show its cards.
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  • #12,484
  • Mar 4, 2008 1:20pm Mar 4, 2008 1:20pm
bshadroo:

It all depends on the market at the time. Just because the 4hr has fallen and the 1hr has found support at a moving average or trendline it's not always a green light to enter. It pretty much depends on the 4hr direction or 'mood'. Where are the support/resistance areas, Fib #s, pivots...But the main reasoning is the rhythm of the 4 hr trend. I think the EU is losing rhythm right now because of this range. I agree with Phillip, if we break support we could see price come back down to the 21 and close below it. I'm not sure if we'll make it all the way down to the 89 because of the current US economy. But, a close below the 21 could set up for a nice return back to the upside. A lot hinges on the Fed next week. The current high might be tough to break until that meeting so this might be a difficult pair to trade in the meantime.

But again, I wouldn't fight the 4hr and go short the 1hr if the 4hr is still a bull. The 4hr is always the key, never try to guess direction with the 1hr. That's not trading, it's rolling dice. This isn't directed towards anyone. It's just the nature of following the main trend.
  • #12,485
  • Mar 4, 2008 2:15pm Mar 4, 2008 2:15pm
bshadroo:

Looking at the 1hr Aussie again. See how the 1hr found support or a 'reason' to return to the upside with the 4hr trend. Twice at the 200 and now at the 365. The 4hr is right at the 89 as well. The important thing to always keep in mind is that the 4hr has paused or come down for a reason and may continue to do so resulting in a loss on the 1hr chart; more aggressive territory. It's really important on the 1hr to be disciplined with your profit targets and take pips when you can because the 4hr might be changing direction. That's why these trades are more aggressive. But, there are those times (still up + 500 on the EU) when the 1hr lets you get back in the 4hr directions early and keeps going your way.
Attached Image
  • #12,486
  • Mar 4, 2008 2:18pm Mar 4, 2008 2:18pm
Quoting Palmer
bshadroo:

It all depends on the market at the time. Just because the 4hr has fallen and the 1hr has found support at a moving average or trendline it's not always a green light to enter. It pretty much depends on the 4hr direction or 'mood'. Where are the support/resistance areas, Fib #s, pivots...But the main reasoning is the rhythm of the 4 hr trend. I think the EU is losing rhythm right now because of this range. I agree with Phillip, if we break support we could see price come back down to the 21 and close below it. I'm not sure if we'll make it all the way down to the 89 because of the current US economy. But, a close below the 21 could set up for a nice return back to the upside. A lot hinges on the Fed next week. The current high might be tough to break until that meeting so this might be a difficult pair to trade in the meantime.

But again, I wouldn't fight the 4hr and go short the 1hr if the 4hr is still a bull. The 4hr is always the key, never try to guess direction with the 1hr. That's not trading, it's rolling dice. This isn't directed towards anyone. It's just the nature of following the main trend.
thx for ur patient for answering me and... look at the aususd ,it could give us 30pips.
and ... do i really find a good h1 entry or it was by chance?i always hope to enter h1 entries like u and if u tell me "yes ,this was a perfect entry based on h1 " i'll be very happy and never miss the thing like this next time
edit:well , i refreshed the page and saw ur next post.thx
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  • #12,487
  • Mar 4, 2008 4:30pm Mar 4, 2008 4:30pm
Updated Aussie:

The close of that 1hr 'bull' bar at the 365 was 9247 and the high so far was 9286, about 39 pips. The Aussie is now starting to pull back down. The 1 hour trades can form, last, and end a lot quicker than the 4hr chart trades. This is why it's a good idea, or needed idea to have set profit targets because things can turn around on you as fast as they develop.

Here is a closer view of the 4hr and 1hr now. Look how that single 4hr bar might be the entire life of this trade. I 'usually' just go in with two positions on a 1hr trade, use 1 for 25 and let the other run with a b/e stop for an aggressive trade set-up like this. If his was a bounce off the 21 on the 4hr, a high probability trade, then I 'usually' enter three positions.

Everything thing here is based on Phillip's market rhythm principles.
Attached Images
  • #12,488
  • Mar 4, 2008 9:01pm Mar 4, 2008 9:01pm
I was trying to open the post titled "Candlestick.zip" (on page 650 post 9736) and it would not allow me to open it. It stated that it was either invalid or corrupt. I'm getting very close to finishing all the posts and was hoping someone could help me out.
By the way, thanks to everyone for all the help.
Raymond
  • #12,489
  • Mar 4, 2008 11:12pm Mar 4, 2008 11:12pm
Quoting hijackxx
how does the indicator differ from TS facility?
Hi hijackxx,

That wasn't an indicator I attached, it is an EA called "breakeven expert", it automatically moves your stop loss up to break even after a trade runs X number of pips in your favor.

-Merritt
"The market pays you to be disciplined"
  • #12,490
  • Mar 4, 2008 11:36pm Mar 4, 2008 11:36pm
Quoting merrittb
Hi hijackxx,

That wasn't an indicator I attached, it is an EA called "breakeven expert", it automatically moves your stop loss up to break even after a trade runs X number of pips in your favor.

-Merritt
i really intrest in this thing.as u know trailing stop doesnt works when the platform is down.
where did u attach that ? and how should istall and work with it?
thx
  • #12,491
  • Mar 5, 2008 1:15am Mar 5, 2008 1:15am
Quoting Morelands
I was trying to open the post titled "Candlestick.zip" (on page 650 post 9736) and it would not allow me to open it. It stated that it was either invalid or corrupt. I'm getting very close to finishing all the posts and was hoping someone could help me out.
By the way, thanks to everyone for all the help.
Raymond
This zip includes three files. One is Philip's MP3, anthoer is its transcription, the other is a gif picture. Let me give them to you separately without the MP3 file due to connect problem
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Attached File(s)
File Type: doc candlesticks.doc   70 KB | 687 downloads
Plan your trades and trade your plans
  • #12,492
  • Mar 5, 2008 2:28am Mar 5, 2008 2:28am
Hi,

EUR/USD

4H MACD Down
1H MACD Down

16:00, SELL:1.5180, SL: 1.5220
First profit: 24Pips
Secound profit: ???

Pls tell me the target should be ? Tks a lot.

James
Attached Images
  • #12,493
  • Mar 5, 2008 3:46am Mar 5, 2008 3:46am
Quoting james2006
Hi,

EUR/USD

4H MACD Down
1H MACD Down

16:00, SELL:1.5180, SL: 1.5220
First profit: 24Pips
Secound profit: ???

Pls tell me the target should be ? Tks a lot.

James
Hi James,

In EU I don't see big moves until pair close below 21ema... Cable is going back to 21ema... lets see if it holds below that level. UK PMI data will support GU until BoE tomorrow.

Early today I took a trade in cable using my 1H system. No trades this week using 4H MACD system.

A.
  • #12,494
  • Mar 5, 2008 4:18am Mar 5, 2008 4:18am
Hi,
I know there was a lot written about this, but could you tell me which broker to use, so that I would get the same charts as Phil?
I use Al trader and I am in GMT +1, and my charts a quite different from Phil's.

I would bother you, but I want to have the same charts so that I don't miss out on some important details.

examples
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  • #12,495
  • Mar 5, 2008 4:21am Mar 5, 2008 4:21am
Buy Eu @ 1.5174, 1.5178 and 1.5182.
TP1 1.5200. I will move to break even as soon as possible

Reason:
1. Bounced off 21
2. price failed to closed below the range (38.2 fib)
Attached Image (click to enlarge)
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #12,496
  • Mar 5, 2008 4:37am Mar 5, 2008 4:37am
Morning all - some interesting stuff going on with the GBP/USD today. I'm thinking about taking an early Long (TC) off the H1 and want to know peoples opinion.

Please see the H4 and H1 charts below:
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  • #12,497
  • Edited 7:38am Mar 5, 2008 5:19am | Edited 7:38am
Buy eurusd @ 1.5184, BE 20, Stop @ 1.5143
Reason: bounce off 21ema, long tail hammer, 1.5143 strong support, possible macd zero bounce.

Edit1: Set Be @ 1.5185, not sure the final direction.

Edit2: Close @ 1.5205. Sleep. +21 pips.
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Rhythm, Motion, Emotion and Risk Reward.
  • #12,498
  • Mar 5, 2008 6:01am Mar 5, 2008 6:01am
Quoting arodriguez
Hi James,

In EU I don't see big moves until pair close below 21ema... Cable is going back to 21ema... lets see if it holds below that level. UK PMI data will support GU until BoE tomorrow.

Early today I took a trade in cable using my 1H system. No trades this week using 4H MACD system.

A.
arodriguez，

Tks for your remark. Afternoon the price of EU stop on the cable line(1.5145).
Now it is no good time to buy or sell EU. I will wait for good signal of 4H MACD and 1H MACD.

James
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  • #12,499
  • Mar 5, 2008 6:47am Mar 5, 2008 6:47am
After waking up from the dream of a giant wasp buzzing around in my room and then stepping in cat barf this morning at about 3am I was fully awake by then. I took look a the EU and saw what was happening. The signal had not completed but I decided to try to get in with a limit order and got filled at 5165. This might have been forcing the trade some before the signal was really there so I only went in with one lot and and have moved this to b/e. There is a lot of news out this morning so get ready for something...I'm very tired right now....
  • #12,500
  • Mar 5, 2008 7:58am Mar 5, 2008 7:58am
dear palmer
price crossed the 21 down but didnt closed below on my chart.where is your stoploss for your long? and.. are u a fulltime trader?
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